diff --git a/Makefile b/Makefile
index f9696df660..bf172f673f 100644
--- a/Makefile
+++ b/Makefile
@@ -488,7 +488,7 @@ install-doc:
 		install -m 644 doc/$$x.txt $(DESTDIR)$(DOCDIR) ; \
 	done
 
-install-bin: all
+install-bin: haproxy
 	install -d $(DESTDIR)$(SBINDIR)
 	install haproxy $(DESTDIR)$(SBINDIR)